Canaccord Genuity Reaffirms “Buy” Rating for Nektar Therapeutics (NKTR)

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research note issued to investors on Wednesday. They currently have a $80.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $50.00. Canaccord Genuity’s price objective would indicate a potential upside of 17.60% from the company’s current price.

Several other research firms have also commented on NKTR. Zacks Investment Research lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. Canaccord Genuity Group lifted their price target on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Mizuho lifted their price target on shares of Nektar Therapeutics from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Roth Capital set a $45.00 price target on shares of Nektar Therapeutics and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $44.00 price target on shares of Nektar Therapeutics in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Nektar Therapeutics has an average rating of “Buy” and a consensus price target of $38.08.

Nektar Therapeutics (NASDAQ:NKTR) traded up $10.63 during mid-day trading on Wednesday, hitting $68.03. 5,984,400 shares of the stock traded hands, compared to its average volume of 2,297,083. The stock has a market cap of $10,710.00, a price-to-earnings ratio of -95.82 and a beta of 1.81. The company has a current ratio of 4.14, a quick ratio of 3.99 and a debt-to-equity ratio of 2.91. Nektar Therapeutics has a 1 year low of $11.41 and a 1 year high of $69.42.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.16. The firm had revenue of $152.90 million for the quarter, compared to analyst estimates of $126.50 million. Nektar Therapeutics had a negative net margin of 42.08% and a negative return on equity of 190.68%. The business’s revenue for the quarter was up 321.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. sell-side analysts forecast that Nektar Therapeutics will post -0.75 EPS for the current fiscal year.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 83,334 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.57, for a total value of $1,964,182.38. Following the completion of the transaction, the chief executive officer now owns 235,838 shares in the company, valued at $5,558,701.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher A. Kuebler sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $58.66, for a total transaction of $1,759,800.00. Following the completion of the transaction, the director now owns 70,500 shares of the company’s stock, valued at approximately $4,135,530. The disclosure for this sale can be found here. Insiders sold a total of 614,017 shares of company stock valued at $20,587,527 in the last quarter. 5.44% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nektar Therapeutics by 14.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 692 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Nektar Therapeutics by 7.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,011 shares of the biopharmaceutical company’s stock worth $254,000 after acquiring an additional 929 shares in the last quarter. Amalgamated Bank grew its stake in shares of Nektar Therapeutics by 8.7% in the second quarter. Amalgamated Bank now owns 20,563 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 1,644 shares in the last quarter. Shelton Capital Management grew its stake in shares of Nektar Therapeutics by 12.5% in the second quarter. Shelton Capital Management now owns 15,283 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 1,696 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of Nektar Therapeutics by 16.3% in the third quarter. Strs Ohio now owns 16,400 shares of the biopharmaceutical company’s stock worth $393,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was reported by BBNS and is owned by of BBNS. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://baseballnewssource.com/markets/canaccord-genuity-reaffirms-buy-rating-for-nektar-therapeutics-nktr/1822896.html.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

Analyst Recommendations for Nektar Therapeutics (NASDAQ:NKTR)

Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.